Last updated: 1/31/2025
Waiver Of Duties Statement
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Description
WAIVER OF DUTIES STATEMENT. After entering into an agency relationship, a real estate licensee (meaning a licensed broker or salesperson) is considered a “fiduciary” of the client. This means the licensee will use his or her best efforts to further the interests of the client. Under Ohio law, these fiduciary duties may not be waived. The client’s real estate licensee must: • Exercise reasonable skill and care in representing the client and carrying out the responsibilities of the agency relationship; • Perform the terms of any written agency agreement; • Follow any lawful instructions of the client; • Be loyal to the interest of the client; • Comply with all requirements of Ohio real estate licensing laws and other applicable statutes, rules, and regulations, including state and federal fair housing laws; • Disclose any material facts of the transaction of which the licensee is or should be aware; • Advise the client to obtain expert advice related to material matters when necessary or appropriate; • Account in a timely manner for all moneys and property received in which the client has or may have an interest; and • Keep all confidential information confidential, unless permitted to disclose the information pursuant to ORC 4735.74(B). This includes the duty to not disclose confidential information to any licensee who is not an agent of the client. www.FormsWorkflow.com
